Several major tech companies, including Nvidia, Meta, Netflix, Google, Amazon, and Microsoft, have seen significant increases in their stock prices, with Nvidia leading at +110% YTD. These companies, known as the 'Magnificent 7,' now make up 31% of the S&P 500 market cap, a record high. Nvidia alone contributes 25% to the S&P return, while the top 5 S&P companies hold 27% of the market cap.
Mag 7 names account for 31% of S&P 500 market cap and $NVDA alone accounts for almost 4% of this year's S&P 500 rally... $MSFT $GOOG $META $AAPL $AMZN $TSLA https://t.co/IdRdIOApFH
Stock market concentration is back on the rise. As of Friday's close, the largest five S&P 500 companies (MSFT, AAPL, NVDA, GOOGL, and AMZN) made up a record 27.0% of S&P 500 market cap. The top 10 now make up 35.4%, also a record since 1972. https://t.co/nT5W90sfrS
Magnificent 7 stocks now account for 31% of the S&P 500, an all-time high https://t.co/uXkHPD9qGO
Magnificent 7 stocks now account for 31% of the S&P 500, an all-time high 🚨 https://t.co/zcavH8I1tQ
Mag7 are now 31% market cap of SPX 🚨 Source BofA https://t.co/Oz5YeBFZSF
The Enormous Eight: 2024 Total Returns... Nvidia $NVDA: +110% Meta $META: +32% Netflix $NFLX: +31% Google $GOOGL: +24% Amazon $AMZN: +19% Microsoft $MSFT: +14% -S&P 500 $SPY: +11% Apple $AAPL: -3% Tesla $TSLA: -30% https://t.co/l5IYmkf6Ih https://t.co/xP5K3zH9et
B of A: “.. ‘Magnificent 7’ up magnificent 24% YTD, contributing >50% of $SPX return ( $NVDA alone = 25% ) as monopolistic mega tech monopolizes performance ..” [Hartnett] https://t.co/ooJ631oEwN
BofA - "'Magnificent 7' up magnificent 24% YTD, contributing >50% of SPX return (NVDA alone = 25%) as monopolistic mega tech monopolizes performance; 3Cs of Crypto, China, Commodities also outperforming in '24: bitcoin +60%, China +16%, gold +13%"